Vodafone Group is close to selling a stake of at least 50% in its Spanish business to Zegona Communications.
close to selling a stake of at least 50% in its Spanish business to Zegona Communications in a deal that values the asset at more than €5-billion , according to people familiar with the matter.
While discussions are at an advanced stage, they could still be delayed or even falter, according to the people. Vodafone didn’t immediately respond to a request for comment made outside of normal business hours. A spokesman for Zegona reiterated the details of a statement on 22 September, when the company confirmed talks with Vodafone and said it was discussing financing with its banks.Newbury, England-based Vodafone has been trying to do a deal in Spain for more than a year.
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